I make 7.15 an hour at a part time job. I am a teen so dont have the medicare and stuff. I will approx. have $185.90 before they take taxes out, how much do you think i will have after they take the taxes?
2007-07-28 07:30:46 · 4 answers · asked by Anita G 1 in Business & Finance ➔ Taxes ➔ United States
Try this paycheck calculator link and see if it helps:
http://www.paycheckcity.com/netpaycalc/netpaycalculator.asp
Just input all your info and also the State you live in and that will give you an idea.
2007-07-28 07:40:52 · answer #1 · answered by MarineMom 6 · 0⤊ 0⤋
Think again - being a teen doesn't exempt you from paying medicare and social security - that will be a little over $14 per week. You'll also owe around $8 or $9 a week for federal income tax - so don't make the mistake of filing your W-4 as "exempt" - if you make that much all year, you aren't exempt, and can be fined $500 if you claim exempt when you aren't. If you just started the job now though, and didn't have any income this year up to now, you can probably file as exempt for 2007, although in 2008 you'd have to change it to single/zero.
Depending on where you live, there might be state and/or local income taxes also.
2007-07-28 12:34:29 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
Teen or not, you will have the Medicare stuff...and social security taxes taken out. The amount of taxes you have taken out depends on your location. Some states take out a state tax, some counties even take out taxes...if you file exempt status on your W-4, then just the minimum amount will be taken out (no federal, state, or county taxes will be deducted) but you'll still have the medicare and social security tax taken out.
2007-07-28 07:39:50 · answer #3 · answered by Madre 5 · 0⤊ 0⤋
in NY, you would probably get around $160.
The more u earn, the more the tax rate goes. One pay check I made $430, and paid tax $100. So I eventually got $330.
2007-07-28 08:05:14 · answer #4 · answered by Legend 3 · 0⤊ 0⤋